Do you sometimes get confused by real estate jargon?
We can assure you; you are not the only one. Even experienced buyers in the market are starting to lose track of the almost new real estate dictionary of today.
We have had the rise of Buyer's agents since the turn of the century in Australia at a rate only comparable to that of the United States during the 20th century. But still, a lot of people are not sure what they are paying for.
Why the Buyer's Agent?
There are several smart reasons for hiring a buyer’s agent:
You have a professional by your side on a best-effort-basis (unlike a lawyer for example).
An agent is not only familiar with the area of interest to you but they understand the price points of their market meaning you don't overpay on your purchase.
Most importantly is a phrase you may not be familiar with (MLS) Multiple Listing Services, they can deal with the legal aspects, negotiations and all the paperwork. A big bonus wouldn't you say?
But here's the kicker, if you find a top buyer’s agent, they have access to off-market properties, properties that are DUE to be listed, so for both you and the seller, this is ideal when you can turn straight up and strike the deal immediately. That is what you call a no-brainer! For the most reliable agent in town, there is more info here.
Hiring a Listing Agent
On the opposite side, a listing agent can be equally as active, and they bring everything to the table that a buyer's agent does on the other side of the coin. Plus they will put together a strategic plan of how to market your property to the right people as their networks allow them to target market, not just aimlessly advertise in the hope of finding someone to fit the criteria.
The marketplace has changed and going it alone in today's market is not advisable, as for the percentages involved it's worth every cent.